The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

Why your student loan might cost you a house

Why your student loan might cost you a house

By Scott Sheldon / October 6, 2021

For anyone who has ever borrowed money, one of the things that will follow you till the end is a student loan. Repayment terms on a student loan, specifically state that the loan will get paid in full. You can’t short the debt, you can’t bankrupt the debt, and it will follow you until the…

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Why a 6 Month job gap on your FHA Mortgage could be an issue

What you need to know if you are seeking an FHA mortgage with student loans

By Scott Sheldon / June 18, 2020

If you’re getting mortgage financing to purchase or refinance a house here is the number one thing that you’re going to want to avoid if you have a student loan. FHA mortgages and student loans do not mix here’s why… The Federal Housing Administration specifically requires the lender to use the highest possible amortizing payment…

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